absinvestor
Senior Nomad
Posts: 725
Registered: 11-28-2009
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cash vs credit cards vs debit cards
We have read with interest about the recent robbery near Cielito Lindo that is being discussed in the Baja News section of this website. The older
gentleman was robbed of 6000 pesos. The comments are that he had way too much cash. We will be spending two or three months in Baja starting the
latter part of Jan 2010. It costs us somewhere in the neighborhood of 2000 pesos to fill up our motorhome. When you consider the expenses for two or
three months ie a few fill-ups, camping fees, restaurant and groceries charges etc 6000 pesos is not a lot of cash. We recently drove to Alaska and
found that every bank credit card used to charge gas etc in Canada accessed a "foreign transaction fee" on each charge. (This was true for 3 different
bank credit cards.) I have a couple of questions about Baja: 1) Will a bank debit card used to obtain cash at a Mexico ATM vs a credit card be
assessed a foreign transaction fee and 2. Are small denomination travelers checks readily accepted in the smaller towns and at Pemex stations 3. Is it
best to obtain travelers checks in pesos vs us dollars? Lastly, in the past, we have hidden cash in various places in the motorhome only carrying a
small amount on our person. Is there any reason why this approach is a bad idea in Baja? (We do have double bolt locks on the one entrance door,
several locked outside storage areas and an alarm system (that when set) sounds an alarm whenever the entrance door is opened without disabling the
alarm. In addition, we travel with two large dogs that wouldn't hurt a flea but will bark if we are not in the motorhome and a stranger tries to
enter. Thanks for the input. Ron
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woody with a view
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1. yes but wells fargo and (MEXICAN) HSBC partner and waive fees. others will chime in on there banks. if you use "nat'l bank of the frozen northwest"
you'll be outta luck. otherwise expect $5 per transaction.
2. NO!
3.NOT ACCEPTED!
lastly. GREAT IDEA!
it's not MAD MAX down there. set up another bank account so you have 2 accounts to draw/debit from. that way you can double your daily limit. tell
your bank in advance and they may raise your daily limit. bring $1k in dollars (20's) for emergencies and then just draw pesos as you need them for
your everyday fun money. when you get low on dollars, by then you'll have figured out the best way to proceed......
it ain't that bad! just go....
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absinvestor
Senior Nomad
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Thanks for a thorough and informative response. During the two years we lived in Baja Norte the rumors of banditos surfaced from time to time. We
found that we felt safer in Mexico than in most US cities. Home burglaries were more prevalent but the loss of a TV or stereo was a small price to pay
for living in a country where most of the population will go out of their way to assist a stranger. Thanks again. Ron
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toneart
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Ron,
The foreign transaction applies to credit card purchases; hotels, shops, etc.
If you use your debit card to get cash at ATMs, transaction fees are assessed on both ends unless you are using an ATM that is affiliated with the
U.S. bank in which you have an account. Ask your bank which, if any, affiliations they have in Mexico.
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k-rico
Super Nomad
Posts: 2079
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Location: Playas de Tijuana
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"We found that we felt safer in Mexico than in most US cities."
I read a lot of statements like this on this message board.
Let's compare apples to apples.
Do you really think Mexican cities are safer than American cities?
Do you really think isolated parts of Mexico are safer than isolated parts of the United States?
Don't get me wrong, I like Mexico, I live in Mexico. But it's not safer than the United States.
For perspective, the next time you're in a Mexican convenience store and they're refilling the ATM machine, check out the weapons the 2 or 3 guys
standing guard are carrying.
Or, park your car on any street in any Mexican city, leaving it unattended overnight. I dare ya.
Of course it's more dangerous in Mexico.
[Edited on 12-16-2009 by k-rico]
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karenintx
Senior Nomad
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No forgein transaction fees with "Capital One" C/C...just let them know you international travel habits.
We have used it for about five years...traveling from USA - Europe - Central/South America - and as far south as Buenos Aires with no problems and
no fees.
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absinvestor
Senior Nomad
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Thanks for all the info. To k-rico my comment was "we feel safer." I also pointed out that non-violent crimes ie burglaries were more prevalent in
Mexico so I would agree that it would not be a good idea to leave the car unattended for a night on a Mexico street. We have not lived in Mexico for
several years and it might be different today. What I didn't see in Mexico that I do see in some US cities is violent crimes commited without a
financial incentive ie recently in Denver gangs of blacks targeting young white men because the white boys dressed like they were rich. (Money was
not taken but the white boys were severely beaten.) It seems to me that violent crimes in Mexico occur for financial reasons ie armed robberies vs
beating innocent people or physically assaulting women for the fun of it. As for the filling of ATM's I have yet to see a US ATM filled without a
minimum of two armed guards standing watch. In summary, I do believe that there is more crime in Mexico but my wife and I do feel safer (note I didn't
say safe) in Mexico because I believe that violent crime strictly for the fun of it is more prevalent in the US. Ron
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BAnn
Newbie
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Registered: 3-7-2009
Location: Silver City NM-San Felipe South Campos
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I have never had fees charged on my credit union account. I don't know if that is all credit unions our just ours.. When we used Bank of America they
always charge a fee.
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karenintx
Senior Nomad
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| Quote: | Originally posted by BAnn
. When we used Bank of America they always charge a fee. |
Is that for a credit card or your ATM card?
Just used our BOA ATM @ Scotia Bank last week with zero fees. We were doing some business in the bank and asked the bank manager if they had
reciprocating benefits with BOA to which he informed us "Yes, when you use your BOA ATM card there is no fees charged here or in the USA."
Also have used it at Santander with no fees.
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Bajahowodd
Elite Nomad
Posts: 9274
Registered: 12-15-2008
Location: Disneyland Adjacent and anywhere in Baja
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On the issue of crime, with the exception of the big cities, you're not going to run into gang violence. Most of the crime that gets reported arises
out of the desperation of poverty.
As for the money, There have been several threads on this forum about the ATM topic, with a number of nomads chiming in with their particular banks
and the fee situation. My bank will not waive fees. However, I'm not running out today to change banks. While traveling, I just view a transaction fee
as part of the cost of a vacation. That's just me. And although it's been stated before, just don't carry alot of cash at any given time. It wouldn't
be any more prudent to do that if you were riding the subway in NYC. And, Travelers' Checks are going the way of the dinosaur, worldwide. ATMs are
ubiquitous. Merchants do not want the hassle of dealing with Travelers' Checks.
Finally, not knowing your itinerary, and how far South you will be traveling, here's the basic ATM situation along Highway 1. No ATM from South of San
Quintin until Guerrero Negro. And again south of Vizcaino, until you get to Santa Rosalia. Other than those stretches, you'll find ATMs in every
sizeable town.
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absinvestor
Senior Nomad
Posts: 725
Registered: 11-28-2009
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Thanks to all. We will be traveling the full length of Baja but won't be spending any time in Cabo. Probably a week or so in La Paz and a couple of
days in Todos Santos. Most of our time will be spent in Bahia Concepcion. Thanks again. Ron
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